I have applied for HomeBuy through the HomeBuy Agent. How long will I have to wait for a home?
There is no waiting list however your details will be held on the HomeBuy agent’s database. You should discuss availability within your area with your local HomeBuy agent.
How do I buy more shares in my home and are there any restrictions?
Buying more shares is known as staircasing. Once you move into your new home you have the option anytime to purchase more shares in your property. It is usually better to buy large portions of shares at a time as each time you staircase you will be responsible for the costs of doing so. Most properties allow you to staircase to 100% but check your lease as some properties have restrictions in place to allow the properties to remain affordable.
If I want to sell my shares and move on what are the restrictions?
Under the terms of your lease if you do not own 100% of your property you will have to notify us. We will try to find another buyer for your property within an agreed time frame. Once sold you will get your share back at the current market value. If we are unable to find a buyer you can sell your property on the open market and the money will be split according to share values between you and Southern Housing Group
I am not a first time buyer as I used to own a home with my previous partner, from whom I am now separated. Can I still apply?
Yes, we consider applications where there is a relationship breakdown in the same way as we would a first time buyer. You would however, have to have your name removed from the mortgage and deeds of your home, or sell the property. Please indicate how much you expect to receive from any sale of property on your application form.
I already own a HomeBuy home (shared ownership) but need a larger property. Can I be considered for another home?
Yes, if you still meet the eligibility criteria for the scheme. We will help you manage both the sale of your existing home and the purchase of your new one.
What if I fall behind with my mortgage payments?
The mortgage contract is between you and your mortgage lender. If you begin to have financial problems you should let your lender and us know as soon as possible. Failure to meet your mortgage payments may result in your lender taking repossession of your home.
What if I fall behind with my rent or service charge payments?
You are obliged to pay rent and service charge under the terms of your lease. If you have financial problems you are advised to contact us and we will do everything in our power to help you. If you do fall behind with rent and service charge payments we may take legal action, your home may be at risk and your lease forfeited.
Can I make improvements or alterations to my home?
If you wish to improve your home or make structural alterations to it you must request our written agreement for the works you want carried out. All reasonable requests will be considered and normally agreed.
Am I allowed to keep pets in my new home?
We do not normally allow pets. Please refer to your lease for clarification. Disability aid dogs are the exception.
For any further questions or clarification please speak to your sales and lettings consultant